5 Keys to Winning B2B Loyalty Programs [with Examples]

2. Adopt the Channel Incentives Your Partners Want

Whether you create a tiered B2B loyalty program or a single-level program, including the right channel incentives is essential.

While most channel partners expect financial incentives, such as discounts and rebates, others want variety. Think exclusive education, training, and support opportunities or experiential rewards such as invites to special events, networking, and co-marketing opportunities. You can even offer higher-value rewards like holidays or tickets to big events.

The key is to provide the right mix of channel incentives based on your partners' unique needs, preferences, and pain points.

Offer the Right B2B Rebates

Rebates are a popular incentive in B2B loyalty programs. From digital cash-back payments to pre-paid gift cards and checks, they come in a variety of forms. The key is finding the right distribution method for your partners.

Like gifts and discounts in B2C programs, rebates offer a tangible way to reward loyal channel partners. More than that, they:

• Incentivize customers to make larger or more frequent purchases
• Provide additional value, giving you a competitive edge
• Encourage stronger, lasting relationships
• Motivate partners to pay promptly, improving cash flow

Crucially, rebates are a source of first-party customer data. These insights provide a unique window into redemption patterns and customer motivations, which you can use to refine your loyalty program.

Submiting and Validating Rebates 

Digital rebate management software has streamlined the process of submitting and validating rebates, offering numerous advantages over traditional manual processes.

For starters, rebate management software offers both physical and digital options for submitting and redeeming rebates. These include:

• Web/app upload
• Text
• Email

Customers select their preferred channel, upload their invoice or purchase order, and let the rebate management software take care of the rest. From a business perspective, rebate management software lets you receive, verify, notify, and fulfill rebates from one platform – saving time and reducing costs.

Built-in data analytics and reports provide performance monitoring. This enables you to refine and personalize your program in real time, and understand how your rebate program contributes to your goals.

3. Focus on Relationships

Building strong, lasting relationships with channel partners is one of the primary goals of B2B loyalty programs. B2C brands have thousands or millions of customers, but B2B companies may only have dozens, making an effective customer retention strategy crucial to your success.

Create channels for partners, end customers, and internal stakeholders to feed back on your program. Collect insights on satisfaction, challenges, and suggestions regularly to understand what you're doing well and where you can improve. This helps you refine your program, ensuring you offer the right rewards and incentives, so channel partners feel like an important part of your business.

4. Leverage a B2B Loyalty Platform 
  

Loyalty platform software helps you create, customize, and manage your loyalty programs.

Capabilities vary by solution. Some specialize in B2C, while others support both B2C and B2B customers. However, there are some general features you should look out for:

• Design and set up
• Activation
• Contests and promotions
• Reward tiers
• Points capture and redemption
• Rebates management

The best solutions integrate with your customer relationship management (CRM) and enterprise resource planning (ERP) software, enabling you to deliver seamless experiences. Other key capabilities include:

• Supporting partners across different channels (website, mobile, member portal, and rewards app)
• Engaging with partners through non-financial perks and rewards
• Communicating with partners through various channels to keep them updated on program changes
• Running seasonal or tiered promotions to drive more engagement 
• Providing insights into your partners and end customers, including the effectiveness of your loyalty program or specific promotions within it

5. Measure and Adapt

Like B2C programs, it's essential to establish key performance indicators (KPIs) to evaluate the success of your B2B loyalty program. 

Key metrics, such as retention rate, average transaction value, and engagement help you identify fluctuations in partner sentiment. In addition, utilize data analytics tools to assess program performance and analyze behavior and redemption patterns to identify trends and areas for improvement.  Conduct periodic audits to evaluate overall program effectiveness and to ensure alignment with evolving business and partner needs.

B2B Loyalty Program Examples

Draka Grows Wallet Share with Points-based Loyalty Program

Manufacturer Draka (Prysmian Group) worked with Snipp to build a points-based loyalty rewards program that incentivizes installers to purchase products from participating wholesalers.

Running in the Netherlands, Connect & Collect lets installers earn Coins (points) on purchases of Draka electrical products. The number of points they earn depends on the type of product and wholesaler they purchased from. After accruing enough points, they can redeem them for various rewards on the program website. 

3M Increases Revenues and Drives Customer Loyalty

3M implemented a customer loyalty program targeting dental healthcare professionals to increase revenue and reduce customer churn.

Powered by Snipp, the program lets dentists register and upload purchase invoices to earn points and rewards. This includes both financial and non-financial rewards, such as courses and business support. The program also acts as a valuable customer data collection tool that gives 3M valuable insights into consumer purchasing habits. In turn, this helps them segment customers more effective and deliver more personalized experiences.

DSI Westbury Contractor Training Ecosystem

Following extensive research, DSI Westbury developed an innovative tier-based loyalty program built around its contractor training ecosystem.

Using the Snipp C.A.R.E platform, the Westbury Pro Rewards program allows contractors enroll in the training scheme to earn rewards for every purchase of qualifying DSI products. As they progress through the program, members can achieve Westbury Certified Master Pro status, unlocking additional rewards.

IKO increased contractor and distributor satisfaction in the US and Canada by incorporating Snipp's transaction processing software into its ROOFPRO loyalty program.

The software enables simpler and faster invoice processing, making life easier for contractors and distributors. Additionally, participating in the loyalty program entitles members to rebates, which they can claim digitally or in the mail.

Hayward Engages and Retains Installers with Digital Rebates

US pool equipment manufacturer Hayward Industries runs a digital rebate program that rewards installers for using its products for daily repairs and upgrades – alongside various tiered offers and promotions.

Get Paid to Upgrade allows channel partners to submit photos of freshly installed Hayward products online to earn a $50 digital gift card from several participating outlets, including Amazon, Home Depot, Visa, and Walmart. Launching the program has helped Hayward engage with and retain program members.

Barilla Drives Sales Through Rebate Program

B2B loyalty programs don't have to be complicated. Barilla celebrated National Pasta Month by offering rebates to restaurant owners who purchased cases of Barilla pasta. The more cases they purchased, the greater the rebate.

Along with the rebate, the loyalty program included digital content, such as recipes and tutorial videos, focused on cooking with Barilla products.

Colgate Improves Sales and Smiles with its Digital Rebate Program

Colgate implemented a digital rebate program that rewards dentists for using its Optic White Professional teeth whitening kits.

After each treatment, participating dentists simply upload the unique code included on every kit to the program website and complete a short patient survey. They can also submit an optional before and after photo showing the effectiveness of the treatment. In exchange, they receive a $150 digital gift card.

The mutually beneficial promotion helps increase sales of Colgate's teeth whitening kits, while helping dentists give their patients whiter smiles.

Give Your Channel Partners the Program They Deserve

In a B2B environment, keeping your partners happy and loyal is essential.

The best B2B loyalty programs offer financial and non-financial rewards that align with partners' needs and your business goals. Done well, they foster enduring partnerships, drive sales, and help you gain a competitive advantage.

Speak to our experts to discuss how you can enhance your loyalty program with Snipp.